The US Dollar fell on Friday against the Canadian Dollar, as the currency exchange rate did not manage to break the resistance put up by the weekly R2 at 1.3131, which it had been pounding on for the previous two trading sessions.
On Thursday the Australian currency continued to gain value against the American Dollar, but with gains limited by the 55-day SMA at 0.7557.
EUR/CAD has been consolidating over the past few years after the 2013/2014 surge resulted in a conquest of 1.5269 – the 4 year high at that point, and the level has not been broken until this day. The monthly chart shows the pair to be moving inside of a symmetrical triangle, near to the lower trend-line. We expect the upper
For the third consecutive day this week the Euro managed to outperform the Yen, with volatility contained by the Bollinger band and the weekly R2 from below and the resistance cluster just under 116.00 from above.
USD/SGD showed signs of weakness over the first eight months of 2016, posting eight percent of losses in June. Respecting the 1.3345 support level, the pair has recovered 2.6 percent since then, and might continue to erase the losses just after a retracement to the broken trend-line around 1.3457 is accomplished. After experiencing severe volatility during Yellen's speech on August
EUR/SGD has developed a strong upper trend-line for the symmetrical triangle it has been maintaining over a year or so. The rate is quite far along the pattern, implying that a downward breakout might come in the following months. This dynamic is approved by the descending channel that the pair has been following since 2007 and hints that the actual
The yellow metal is moving lower on Friday morning, as it opened Friday's trading session at 1,314.61 and started moving lower after a slight bounced above the 1,315 level.
Even though the US Dollar weakened against the Yen on Thursday, the pair still experienced only an 18-pip loss.
A strong reading of the UK Manufacturing PMI yesterday allowed the Sterling to take the upper hand versus the US Dollar, with the exchange rate reaching the tough resistance area 1.33.
The common European currency traded at 1.12 against the US Dollar on early Friday morning, as the currency exchange rate surged above the newly formed monthly pivot point at 1.1190.
The US Dollar continues its surge against the Canadian Dollar, as it struggles against the weekly R2 at 1.3131.
Even though the Aussie managed to appreciate against the US counterpart on Wednesday, trade closed with only a seven-pip rally.
The New Zealand Dollar is bounced between two pivot points against the US Dollar on Thursday, as it was squeezed in by the weekly pivot point at 0.7279 and the monthly pivot point at 0.7240.
The Euro experienced another rally against the Yen yesterday, easily reclaiming the 115.00 major level.
The pair has established a consistent uptrend since year 2012, which it is currently testing at 1.4785 after a dip underneath. In addition to the broken trend-line, the weekly chart shows a descending triangle pattern running the trend, shifting our expectations towards a bearish scenario. A cluster of various time frame SMAs put pressure on the currency, which will, in
The Swiss Franc was appreciating strongly up until June 2015, when SNB's attempts to mitigate the overvaluation of the safe haven currency started paying off. Proof for the Franc losing its safe haven status came after the Brexit vote, when investors chose the Yen instead of the Swiss Franc for their risk-off sentiment investments. The pair is now approaching the
The yellow metal is located between two weekly support levels at 1,310.87 and 1,301.13 without clear direction on Thursday morning.
The USD/JPY currency pair posted more gains on Wednesday, but they were limited by the eight-month resistance line at 103.55.
The British currency managed to outperform the Greenback on Wednesday, not only retaking the 1.31 level, but also negating Monday's and Tuesday's losses.
The common European currency moved slightly lower on Thursday morning against the US Dollar, as the currency exchange rate still does not manage to find enough support in the cluster below it to rebound.
The New Zealand Dollar appreciated against the US Dollar on Wednesday, as the currency exchange rate moved from 0.7222 at the start of the day's trading session to 0.7247 by 11:30 GMT.
The US Dollar is trading flat against the Canadian Dollar on Wednesday after scoring gains and surging to 1.31 mark on Tuesday.
The Australian Dollar experienced a harsh sell-off on Tuesday, with volatility even reaching the 100-day SMA at 0.75.
The Euro continued to outperform the Japanese Yen, with the exchange rate climbing 70 pips higher yesterday.